Afford Anything Podcast

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#171: The biggest study of everyday millionaires in 25 years – with Chris Hogan

January 7, 2019 By Paula Pant 7 Comments

Photo of Chris Hogan and Paula Pant at FinCon recording this podcast episodeChris Hogan is a former football player and Georgetown alum who became the Vice President of a well-respected company. By all accounts, he seemed successful. Yet he felt there was something missing.

He kept seeing families struggle with their personal finances, and he felt a calling to help. That’s when he met Dave Ramsey, who brought him into the Ramsey family to spread the word about smart money management and debt freedom. Chris has been a writer, speaker and influencer ever since.

Chris organized a survey of 10,000 millionaires in the United States. The last time anyone conducted a large-scale study of American self-made millionaires was 25 years ago, and documented in the classic book The Millionaire Next Door. While that book is fantastic, it’s also 25 years old. Chris wanted to gather current data, to see what’s changed since then, and what’s remained the same.

He published these findings in a new book called Everyday Millionaires, which details the life of individuals and households in the U.S. that have seven-figure net worths.

Here’s what he discovered:

[Read more…]

Filed Under: Episodes Tagged With: chris hogan, freshbooks, millionaires, policy genius, policygenius, rover, skillshare

#170: Ask Paula – When Should I NOT Use the One Percent Rule for a Rental Property?

January 4, 2019 By Paula Pant 1 Comment

Paula Pant Afford Anything Podcast Episode 92 Hiring all star rental property teamWhen should you NOT use the one percent rule for rental property investing? In today’s episode, I encourage two callers to violate the One Percent Rule for real estate that they already own.

WHAAATTTT? Why would I say that? Especially given that I’ve gained a bit of a reputation as The World’s Most Staunch Advocate of the One Percent Rule? (Long title, I know, but someone’s gotta wear it.)

And if you’re not going to use the One Percent Rule, how should you make decisions about your real estate investments instead?

Find out in this podcast episode. Enjoy!

Here’s more detail:

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Filed Under: Episodes Tagged With: ask paula, blinkist, freshbooks, gusto, one percent rule, real estate, real estate investing, rental properties, rover

#169: One Tweak a Week in 2019 — Easy Improvements to Your Financial Life in 2019

December 31, 2018 By Paula Pant 11 Comments

Photo of Paula PantHappy New Years! To kickoff 2019, we’ve created a free book called One Tweak a Week, outlining 26 easy, actionable ways that you can improve your financial life.

Today’s podcast episode covers these 26 tweaks, so you can listen in audio format, in addition to reading the book.

If you put these into action for the first six months of 2019, you’ll be in a stronger position in June than you started in January.

Each tweak takes less than one hour (some are as quick as five minutes), and taken together, these tweaks can accumulate into a serious impact.

Improve your money management and get closer to financial independence with our free book, One Tweak a Week. You can download it here: https://affordanything.com/2019

[Read more…]

Filed Under: Episodes Tagged With: personal finance, radius, radius bank, rothys, rover, skillshare, solo episode

#168: How to Optimize Your Time and Energy — with Mike Vardy, The Productivityist

December 24, 2018 By Paula Pant 1 Comment

Mike Vardy Afford Anything Podcast

You can do anything, but not everything … and definitely not everything at the same time.

How can you optimize your time and energy? How do you choose what’s worthwhile and what’s a waste of time?

How can you eliminate small decisions so that your mind is free to focus on the few choices that make a massive 10x impact?

How can you spend less time struggling with your Inbox, and more time on long-term projects that can boost your income?

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Filed Under: Episodes Tagged With: gusto, mike vardy, productivity, rover, skillshare

#167: Ask Paula – Should I Pay Off Student Loans While in School?

December 17, 2018 By Paula Pant 4 Comments

Photo of Paula and Joe for Ask Paula episode of Afford AnythingAngelisa is a college senior with $30,000 in student loans. She has a part-time job, from which she’s saved $2,500. Should she keep saving money, or should she get a headstart on paying down her student loans while she’s in school?

Mackenzie is also a college senior with some student loans. She recently received a settlement from a car accident. Should she invest this money? If so, how?

Franchesca is 35 and is carrying $212,000 in debt, mostly student loans. Could she reach financial independence, even with a late start?

Erica wants to make environmentally-friendly investments. How should she approach this?

Caroline is 42 and has started making after-tax (non-Roth) 401k contributions. Is this a good idea?

An anonymous listener is curious about podcasting. How did I get started?

I answer these six questions on today’s podcast episode, alongside former financial planner Joe Saul-Sehy. Enjoy!
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Filed Under: Episodes Tagged With: ask paula, betabrand, freshbooks, radius, robinhood, student loans

#166: Everything I Learned About Money Came from My Grandmother – with Michelle Singletary of the Washington Post

December 10, 2018 By Paula Pant 4 Comments

Image of Michelle SingletaryMichelle Singletary learned everything she knows about money from her grandmother.

Well, okay, I shouldn’t say “everything” that she knows. After all, Michelle also has an MBA from Johns Hopkins University. She writes about personal finance for the Washington Post. Her nationally-syndicated personal finance column, The Color of Money, is published in more than 100 newspapers nationwide. She’s written three financial books.

Oh, and guess what? Her column was nominated for a Pulitzer.

Michelle has been learning, thinking, writing, researching and speaking about money management for decades. Yet the most important education she received, she says, came from the lessons her grandmother taught her.
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Filed Under: Episodes Tagged With: freshbooks, legacy box, michelle singletary, money, personal finance, shipstation, simple contacts, washington post

#165: Ask Paula – Should I Invest in Index Funds or Rental Properties?

December 7, 2018 By Paula Pant Leave a Comment

Should Kim, an entrepreneur, invest in index funds or rental properties?

Should Nick, an MBA student, househack into a more-expensive home with stronger cash flow, or a cheaper home with more budgetary wiggle room?

Should Kelly, who is getting married soon, sell her current home and use the proceeds to buy multiple rentals? Or should she use her current home as a rental property?

Should Trayci and her sister invest in rental properties or bare land?

I answer these four questions in today’s episode.

We’re a weekly show, but on the first Friday of the month, we air a bonus episode. This is our December 2018 First Friday Bonus Episode.

Enjoy!
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Filed Under: Episodes Tagged With: ask paula, away travel, freshbooks, radius, radius bank, skillshare

#164: How and Why I Took a Mini-Retirement, with Bob Lotich

December 3, 2018 By Paula Pant Leave a Comment

Bob Lotich - Afford Anything Podcast 2As an entrepreneur, Bob Lotich loves growing and expanding. But after a particularly stressful year, he realized he had burned out.

He woke up one Monday morning and, for the first time since he’d started self-employment, he realized he didn’t want to go to work. This was a new and uncomfortable feeling.

He decided to take a mini-retirement.

He had taken long breaks before. In the past, Bob had taken a full month off of work. This time, he wanted to a more ambitious break. He wanted to take a quarter off.

He went to his whiteboard. He wrote the goal “take a sabbatical,” intending for this to last for three months. But then he paused. He wondered if he spelled the word “sabbatical” correctly.
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Filed Under: Episodes Tagged With: beta brand, entrepreneurship, freshbooks, policy genius, policygenius, tomorrowme

#163: Ask Paula – The Future of Index Fund Investing

November 26, 2018 By Paula Pant 4 Comments

Ask Paula and Joe - Should I Choose a Roth vs Traditional IRA and 401k for Early RetirementDoes my employer match count against my 401k contribution limits? Should I invest in a Traditional or Roth TSP? Should I invest more aggressively in stocks right now, or should I hold cash and bonds until the next downturn? Should I get a mortgage or keep renting until I can buy a home in cash? Do you think index investing will dramatically change in the coming decades?

Former financial planner Joe Saul-Sehy and I answer these five questions in today’s episode.

Sydni asks:
I’m trying to maximize my retirement savings this year. I’d like to max out my 401k to the maximum contribution limits of $18,500.

I also have an employer Safe Harbor contribution that equals three percent of my salary. Does this count towards the $18,500 limit?
[Read more…]

Filed Under: Episodes Tagged With: ask paula, blue apron, gusto, index funds, investing, le tote, robinhood

#162: AI and The Future of Jobs – with author Darrell West

November 19, 2018 By Paula Pant 9 Comments

Darrell West on The Future of Work - Afford Anything PodcastHow will artificial intelligence, AI, impact jobs?

Former Harvard president and leading economist Larry Summers predicts that one-third of men will be out of work by 2050. Finance guru Suze Orman says not to be surprised if we see 25 percent unemployment by 2030. And major research institutions predict anywhere from 14 percent to 50 percent unemployment.

Even if we take the most optimistic prediction, that’s huge. Fourteen percent job loss would have massive ramifications on the economy, the stock market, the housing market, and every facet of our lives. Heck, even half of the most optimistic prediction would be an enormous game-changer.

But could this really be possible? Or is everyone panicking about what will essentially be a shift in the types of jobs that people hold — reminiscent of our shift from farm to factory, and from factory to office — but not an actual net job loss?
[Read more…]

Filed Under: Episodes Tagged With: ai, artificial intelligence, author, darrell west, freshbooks, gusto, interview, radius, radius bank, shipstation, work

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Recent Episodes

  • #171: The biggest study of everyday millionaires in 25 years – with Chris Hogan
  • #170: Ask Paula – When Should I NOT Use the One Percent Rule for a Rental Property?
  • #169: One Tweak a Week in 2019 — Easy Improvements to Your Financial Life in 2019
  • #168: How to Optimize Your Time and Energy — with Mike Vardy, The Productivityist
  • #167: Ask Paula – Should I Pay Off Student Loans While in School?
  • #166: Everything I Learned About Money Came from My Grandmother – with Michelle Singletary of the Washington Post
  • #165: Ask Paula – Should I Invest in Index Funds or Rental Properties?
  • #164: How and Why I Took a Mini-Retirement, with Bob Lotich
  • #163: Ask Paula – The Future of Index Fund Investing
  • #162: AI and The Future of Jobs – with author Darrell West

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